Insider Selling: PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Sells 17,800 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 17,800 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.77, for a total transaction of $921,506.00. Following the sale, the chief accounting officer now directly owns 52,428 shares of the company’s stock, valued at $2,714,197.56. This represents a 25.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $49.86 on Thursday. The firm’s 50 day moving average price is $41.06 and its 200-day moving average price is $36.66. PTC Therapeutics, Inc. has a one year low of $23.58 and a one year high of $54.16.

Hedge Funds Weigh In On PTC Therapeutics

Large investors have recently made changes to their positions in the stock. KBC Group NV lifted its holdings in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 504 shares during the last quarter. CWM LLC lifted its holdings in shares of PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares during the last quarter. Quest Partners LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter worth approximately $128,000. Finally, Quarry LP lifted its holdings in shares of PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 2,500 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on PTCT. Royal Bank of Canada raised shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $39.00 to $63.00 in a research note on Tuesday. Citigroup upped their price objective on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research note on Wednesday. Raymond James began coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. UBS Group upped their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PTC Therapeutics has an average rating of “Hold” and a consensus price target of $52.38.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.